REAL ESTATE INVESTMENT
Capital Square | June 17, 2022
Capital Square, one of the nation's leading sponsors of tax-advantaged real estate investments and an active developer of multifamily communities, announced today the acquisition of Hunter's Chase, a 320-unit apartment community in the Richmond suburb of Midlothian, Virginia. The community was acquired on behalf of CS1031 Hunter's Chase, DST.
This is Capital Square's twelfth acquisition of a multifamily community in the Richmond area for the DST/1031 exchange program. The Richmond area enjoyed 12% rent growth over the last year, driving cash flow and residual value. Capital Square is a prolific buyer of apartment communities in the Mid-Atlantic region that benefit from a combination of strong rent growth and high occupancy, along with exceptional economic opportunities, and the ongoing migration of people from gateways citites to the suburbs."
Louis Rogers, founder and chief executive officer of Capital Square
Located at 5200 Hunt Master Drive, the 24.7-acre garden-style apartment community offers one-, two- and three-bedroom units averaging 816 square feet with spacious floor plans, walk-in closets, in-unit washer and dryer, stainless steel appliances and private screened patios and balconies. The property amenities include a resident clubhouse with coffee bar, fully equipped fitness center, swimming pool with a sundeck, multi-use sports court, BBQ and picnic areas, fenced dog park, playground, carwash station and package lockers.
Hunter's Chase is adjacent to the Village at Swift Creek and Commonwealth Center shopping malls, offering residents a wealth of local shopping and dining options.
The community is situated in a thriving submarket that Yardi Matrix project's will maintain a 10-year occupancy average of 96% through 2032. According to Axiometrics, the Chesterfield County submarket in which Hunter's Chase is located, is projected to experience annual effective rent growth of 6.6% and an average occupancy rate of 97.3% through 2025.
"Hunter's Chase is located in a high-growth submarket of Richmond that we expect will continue to flourish over the next several years," said Whitson Huffman, chief strategy and investment officer. "The property has exceptional amenities and is in the midst of a thriving metropolitan region that has persistently strong demand for quality multifamily living."
CS1031 Hunter's Chase, DST seeks to raise $48.2 million in equity from accredited investors and has a minimum investment requirement of $50,000.
Since its founding in 2012, Capital Square has acquired 149 real estate assets for approximately 6,000 investors seeking quality replacement properties that qualify for tax deferral under Section 1031 of the Internal Revenue Code and other investors seeking stable cash flow and capital appreciation.
About Capital Square
Capital Square is a national real estate firm specializing in tax-advantaged real estate investments, including Delaware statutory trusts for Section 1031 exchanges, qualified opportunity zone funds for tax deferral and exclusion and a real estate investment trust (REIT). In recent years the company has become an active developer of mixed-use multifamily properties in the southeastern US, with eight current projects totaling approximately 2,000 apartment units with a total development cost in excess of $600 million. Since 2012, Capital Square has completed more than $5.6 billion in transaction volume. Capital Square's related entities provide a range of services, including due diligence, acquisition, loan sourcing, property/asset management, and disposition, for a growing number of high-net-worth investors, private equity firms, family offices and institutional investors. Since 2017, Capital Square has been recognized by Inc. 5000 as one of the fastest growing companies in the nation for four consecutive years. In 2017, 2018 and 2020, the company was also ranked on Richmond BizSense's list of fastest growing companies. Additionally, Capital Square was listed by Virginia Business on their "Best Places to Work in Virginia" report in 2019 and their "Fantastic 50" reports in 2019 and 2020.
REAL ESTATE TECHNOLOGY
Realogics Sotheby's International Realty | April 29, 2021
Today, Realogics Sotheby's International Realty (RSIR) brokers Michele Schuler and Neda Perrina took to Instagram Live to reveal another essential organization that hoists their customer care across Seattle, the Eastside, Bainbridge Island, and past. At 12:30 pm PST, devotees tuned in for insider understanding on the development of their business, perceptions on the present quick market, and to meet their recently selected colleagues.
As establishing individuals from the RSIR lead office in midtown Bellevue and top-creating brokers in the firm, Schuler, and Perrina accomplished more than $87M in aggregate deals in 2020.
"After our individual victories a year ago, Neda and I were both seeing how to additionally elevate our administrations, and it just clicked," says Schuler. "We are currently situated to take advantage of both of our circles and give twofold the openness and advantage for our customers."
Drawing upon 18 years of joined land insight, Schuler and Perrina have set up center skills in private home deals, new development and manufacturer administrations, and movement talking with an accentuation on the area's flourishing tech area. To add a layer of help, Schuler and Perrina delegated Samantha Schwartz as a committed purchaser's agent and Lexie Rogers as a customer administrations chief to help to sell customers in situating their homes available to be purchased.
"In recognizing our objectives, we decided an unmistakable requirement for extra essential help, which is the place where Samantha and Lexie come in," Perrina adds. "We perceive that we are more grounded together and our customers are as of now beginning to feel it—we've effectively joined forces on a few exchanges in 2021 and anticipate some more."
Giving passageways to a more extensive scope of demographics was a critical foundation in setting up the group dynamic. Schuler and Perrina each repeated this slant during the declaration occasion, addressing the additional help for purchasers and dealers, and top-level assistance that traverses each value point, from starter homes to climb purchasers, second home objections, and downsizers.
"We anticipate having discussions with current and planned customers about our common obligation to remarkable help and welcome the chance to examine everything land," Schuler and Perrina note.
About Realogics Sotheby's International Realty
Realogics Sotheby's International Realty (RSIR) is a main worldwide deals and marketing business firm in the Pacific Northwest. The shop land firm of 300+ dynamic brokers administration branches in midtown Seattle, Bainbridge Island, Kirkland, Madison Park, and downtown Bellevue.
REAL ESTATE INVESTMENT
Dynamic City Capital | February 08, 2022
Dynamic City Capital (DCC), a Utah-based real estate investment firm focused on acquiring and developing premium-branded hotels, announced the acquisition of the Hyatt Place San Francisco Downtown. The transaction was completed on January 28 and is the company's first acquisition of 2022. The hotel's premium corner location is less than a half-block from Oracle Park, home of Major League Baseball's San Francisco Giants.
The Hyatt Place San Francisco Downtown is an excellent addition to our portfolio. The brand, market, and specific location fit our strategy to acquire best-in-class hotels in prime markets, We are thrilled to make this acquisition and look forward to our 2022 pipeline of opportunities."
Ryan Phelps, DCC's Chief Investment Officer.
The twelve-story hotel features 230 guest rooms, 4,300 square feet of retail space, a lobby bar, and a 24/7 market. The Hyatt Place is between the lively South of Market (SoMa) and Mission Bay neighborhoods known for world-class dining, museums, and business. Nearly adjacent to Oracle Park, it is also within walking distance of Chase Arena, home to the NBA's Golden State Warriors, and the Moscone Convention Center. In addition, public transportation, including light rail and Caltrain, is within a city block, providing access to all that San Francisco offers. The hotel opened in January 2019.
This purchase early in 2022 continues the pattern of dynamic growth exhibited by the acquisition of seven properties across the US in 2021.
About Dynamic City Capital
Dynamic City Capital (DCC) is a privately held real estate investment and asset-management firm with three decades of experience in hospitality. During its 30+ year history, DCC has placed hundreds of millions of dollars of capital on behalf of its investment partners. After opening the first Marriott® franchised hotel in the state of Utah in 1991, DCC has been involved in the development, acquisition, and management of hotel assets throughout the United States, representing the premium-branded hotel families of Hilton®, Hyatt, IHG®, and Marriott®.